USAA Preferred Cash Rewards Visa Signature Card Review
With no annual fee, the USAA Preferred Cash Rewards Visa Signature Card is an ideal option for USAA members looking to get 1.5% unlimited cash back on qualified purchases. Cardholders also enjoy the benefit of not paying any foreign transaction fees.
The USAA Preferred Cash Rewards Visa Signature Card is a good fit for USAA members who want straightforward terms for cash back, rewards and benefits. Note that USAA is only available to eligible veterans, current military members and their families. Depending on your terms, the card can have a high APR, ranging between 12.15% and 26.15%.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
USAA Preferred Cash Rewards Visa Signature Card at a Glance
MoneyGeek outlined the USAA Preferred Cash Rewards Visa Signature Card benefits and other key details. For example, cardholders don’t pay foreign transaction fees or annual fees with this credit card.
- USAA Preferred Cash Rewards Visa Signature Card
A good no-annual-fee card with cash back and an intro 0% APR balance transfer offer
- ExcellentCredit Needed
- $0Annual Fee
- 1.5% Cash BackRewards Rate
- 15 monthsBalance Transfer Duration
Pros & Cons Explained
When deciding if the USAA Preferred Cash Rewards Visa Signature Card suits your needs, it’s wise to understand both its advantages and disadvantages.
- No annual feesThere is no annual fee for USAA Preferred Cash Rewards Visa Signature Card cardholders.
- No foreign transaction feeIf you’re abroad, you can use this card without paying any foreign transaction fees. Some other cards charge up to 3% per transaction.
- Get 1.5% unlimited cash backWith no limit, you can get 1.5% cash back on qualified purchases. Cash back rewards don’t expire, and there are no category restrictions.
- 0% Introductory APR for 15 monthsYou can get a 0% intro APR for the first 15 months after opening your account.
- Only available to USAA membersUSAA members are eligible individuals with a military background and their families. Otherwise, you can’t get the USAA Preferred Cash Rewards Visa Signature Card.
- Account feesThere is a 3% fee for balance transfers, cash advances and convenience checks.
- High interest ratesCompared to similar credit cards, the USAA Preferred Cash Rewards Visa Signature Card has a relatively high interest rate, ranging from 12.15%–26.15%.
Bonuses & Rewards Explained
The USAA Preferred Cash Rewards Visa Signature Card offers 1.5% unlimited cash back on all qualifying purchases. As long as you have an active account, your cash back rewards don’t expire. There are also no annual or foreign transaction fees. Check the step-by-step process to see how you can claim your rewards:
Earn cash back
Use your USAA Preferred Cash Rewards Visa Signature Card to get 1.5% cash back on qualifying purchases with no cap. There are no category restrictions.
Check your account
View how many points you’ve earned on the USAA website or mobile app. It will update within 48 hours.
USAA offers a variety of redemption options. Decide if you want to use some or all of your cash back and submit your request whenever you’d like.
Other Features Explained
USAA Preferred Cash Rewards Visa Signature cardholders get even more perks with their card, including the following features.
- Card FeatureDescription
- Zero liability for unauthorized transactionsIf your card is used by an individual that doesn’t have the authority to do so, you’re not held liable for the expenses.
- Auto rental coverageIf you rent a car and use the USAA Preferred Cash Rewards Visa Signature card, you’re covered for theft, physical damage and more. Your name must be listed as the primary renter.
- Travel and emergency assistanceRegardless of where you are, you can contact the USAA benefits center, which is available 24/7.
Because of the card’s relatively high APR, consider maximizing your 0% intro APR for the first 15 months. You’ll be able to save a bit more before the regular APR kicks in. Of course, once your regular interest rate is activated, it’s best not to carry a balance from month to month.
Understanding the Fine Print
When applying for a credit card, it’s important to thoroughly read the fine print, so you understand the card’s terms for annual fees, APR rates, benefits, features and more.
- Card FeatureAmount or Rate
- APR11.90% - 25.90%
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1.5% Cash Back
- Airline Benefits
After the first 15 months of your account opening, the card charges a relatively high annual percentage rate (APR) of 12.15%–26.15%.
Late payment fee
You might pay up to $35 if you make payments after your bill’s due date.
For each balance transfer, you’ll need to pay 3% of its amount. Cash advances also incur a 3% fee unless the money is transferred to a USAA deposit account.
Figure out how this card compares to other rewards cards regarding interest rates, fees and other perks. Check the USAA Preferred Cash Rewards Visa Signature Card page on the USAA website to learn more. The Consumer Financial Protection Bureau (CFPB) website also provides key details in its credit card agreement database.
Who Should & Shouldn’t Consider USAA Preferred Cash Rewards Visa Signature Card?
Other Considerations for USAA Preferred Cash Rewards Visa Signature Card
Figure out your financial goals and plans so you can determine how to use the USAA Preferred Cash Rewards Visa Signature Card. Whether it's your only card or an additional card in your wallet, there are several things to keep in mind.
Things to Consider if This Will Be Your First or Only Credit Card
Depending on your USAA Preferred Cash Rewards Visa Signature card terms, you could pay a 12.15%–26.15% APR, which is relatively high. So, if you don’t fully pay your bill per month, you’ll end up spending more than with some competing cards. If you plan to use this card often, there are other rewards cards that offer lower interest rates.
Things to Consider if This Will Be an Additional Card in Your Wallet
The USAA Preferred Cash Rewards Visa Signature Card doesn’t have foreign transaction fees, so it can be a good addition if you want to travel abroad. This card also has no annual fees, which saves you some money.
If you’re looking to do balance transfers or cash advances, we recommend using another card that doesn’t have transaction fees. The USAA Preferred Cash Rewards Visa Signature card charges 3% of the amount for certain transactions.
MoneyGeek conducts rigorous evaluations when reviewing credit cards every month. Our methodology is a six-step process that includes regular re-ranking, estimates of the average spending for consumer profiles, estimates of each card’s three-year values, standardized scoring for each card and more. We also gather information from credible sources like the Consumer Finance Protection Bureau.
How USAA Preferred Cash Rewards Visa Signature Card Compares to Other Cards
Before you apply for a USAA Preferred Cash Rewards Visa Signature Card, check how it stacks against other cards in terms of fees, rates and rewards. Ultimately, the best card for you should be based on your financial needs.
Quick Comparison of USAA Preferred Cash Rewards Visa Signature Card
USAA Preferred Cash Rewards Visa Signature Card
- Annual fee: None
- APR: 12.15%–26.15%
- Foreign transaction fee: None
- Cash back rewards rate: Unlimited 1.5% cash back on qualified purchases
- Best for: USAA members who want simple terms and one rate for cash back
Capital One Quicksilver Rewards Card
- Annual fee: None
- APR: 15.24%–25.24%
- Foreign transaction fee: None
- Cash back rewards rate: Unlimited 1.5% on every purchase
- Best for: Individuals who travel often outside the U.S.
Other Helpful Decision-Making Q&As
To help you determine if this is the right card for you, MoneyGeek answered commonly asked questions about the USAA Preferred Cash Rewards Visa Signature Card.
Still not sure about this card? Consider these options.
If you’re on the fence about this card and how it will fit in your wallet as a first or additional card, you can try browsing other rewards cards or cash back cards. To help you decide, compare the rates, fees and perks that come with each credit card.
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Learn more about credit cards in general
- J.D. Power. "Customers Losing Faith in Credit Card Issuers as COVID-19 Pandemic Lingers, J.D. Power Finds." Accessed April 13, 2022.
- USAA. "Credit Card Benefits Guide." Accessed April 13, 2022.
- USAA. "Credit Card Credit Limits FAQ." Accessed April 13, 2022.
- USAA. "Preferred Cash Rewards Visa Signature Credit Card." Accessed May 2, 2022.
- USAA. "Rates and Fees." Accessed May 2, 2022.
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